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As U.S. Default Threatened, Banks Took Extraordinary Steps

Tuesday, November 19, 2013 - 10:09 AM
From Reuters via Yahoo Finance:
As the United States threatened to default on its debt last month, major U.S. banks set up war rooms, spent many millions of dollars on contingency planning and, in some cases, even prepared to underwrite federal government benefits.

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7
pearlbrownpearlbrown1,431 posts since
Nov 2, 2010
Rep Points: 6,248
1. Tuesday, November 19, 2013 - 5:22 PM
No matter how well-prepared banks claimed they were, it would be real bad results for all Americans and FIs. 

The real issue is how prepared the Senate/Congress are to prevent the next default.  The answer is unfornately "Not at all."
3
51hh51hh1,476 posts since
Jan 16, 2010
Rep Points: 6,426
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